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Updated almost 10 years ago, 02/20/2015
Should I buy this...?
I am looking at a property that is a bit odd. It has a triplex and a sfh on the same lot. It's On the market for $330,000.
The rents total up to roughly $2500 per month according to the seller. I have a loan pre-approval at 3.25% for 30 years. The properties taxes per year are roughly $2,000. The property is distressed and needs a good remodel into the 21st century.
Do you think, with the numbers shown here, if this is a good property to possibly buy? (I know it's a vague description, any pointers help.)
If I offer, how should I approach and with what number? I am intrigued as to how you come up with the answer as well. It will be a property for renting and be apart of a buy and hold type investment.
Thanks